TEL AVIV, July 2. /Dunyo IA/.  Uzbekistan intends to expand economic cooperation with Israel by attracting investments and technologies into the diamond industry, jewellery manufacturing and other sectors of the economy, reports Dunyo IA correspondent, citing with the Israeli magazine “Maariv”.

A prime example of such a partnership is the joint project between Uzbek entrepreneur Bakhodir Madjidov and the Israeli company “GCI Gemological Centers”. Having pursued his education in Israel in gemmology and diamond processing technologies, Uzbek businessman founded the company “Expert One” and subsequently established a joint venture with his Israeli partner. A cooperation agreement has recently entered into force, which is anticipated to drive the development of Central Asia’s jewellery industry, attract investments and enhance confidence in the region’s certified gemstones.

According to the entrepreneur, favourable conditions for conducting business have been established in Uzbekistan, attracting companies from Central and Southeast Asia, the United States and Europe. Precious stones are flowing into the country from India, Hong Kong, Russia and China, thereby generating increased demand for professional expertise.

Growing trend of the nation’s investment attractiveness was further reaffirmed by the fifth Tashkent International Investment Forum. The event brought together representatives from 102 countries, culminating in the signing of agreements totalling 43.1 billion dollars.

Among the forum participants were representatives from BlackRock, JPMorgan Chase, Citibank, Visa, Franklin Templeton, John Deere, Meta, Coca-Cola, DP World, AD Ports Group, Standard Chartered, London Stock Exchange Group, Bank of China, BP, Masdar, ACWA Power, Airbus and other global corporations.

Furthermore, it was noted that Uzbekistan, Afghanistan, and Turkmenistan are establishing a joint free economic zone. The implementation of this landmark project requires advanced technologies, including those sourced from Israel.